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PRIVATISATION ?

PRIVATISATION ?. MINISTRY OF COMMUNICATIONS. BRUNEI DARUSSALAM. Titah. ........Through the Ministry of Communications, the Government is also implementing its plan to develop the country to become the centre of services, trade and tourism before the year 2003.

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PRIVATISATION ?

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  1. PRIVATISATION ? MINISTRY OF COMMUNICATIONS BRUNEI DARUSSALAM

  2. Titah ........Through the Ministry of Communications, the Government is also implementing its plan to develop the country to become the centre of services, trade and tourism before the year 2003. Titah on the occasion of His Majesty’s 50th Birthday Celebration on 15th July, 1999

  3. WHAT IS SHuTT ? Promotes • Import and Export Through Brunei Darussalam • Travel To and Through Brunei Darussalam • Business In and Through Brunei Darussalam • Communication From and Through Brunei Darussalam

  4. THE STRATEGIES IN REALISING SHuTT • Infrastructure Development • Providing Competitive Services • Privatisation and Liberalisation • Safety and Environmental Care • International Relation and Cooperation

  5. DEFINITION TO THE PRIVATE SECTOR THE ACTIVITIES AND FUNCTIONS WHICH HAVE BEEN TRADITIONALLY VESTED TRANSFER IN THE GOVERNMENT

  6. OBJECTIVES OF PRIVATISATION • Privatisation is the Engine for Growth • Relieve Financial and Administrative Burden for the Government • Improve Efficiency and Productivity • Development of Private Sector • Product and Technical Innovation

  7. WISH LISTS ... “… as a mechanism for promoting efficient allocation of resources, innovation, and flexible adjustment to changing technology, costs and demand in both national and international markets ….” “… as a means to revamp, revitalise and recapitalise the economy and enabling private enterprises to operate more purposefully, contribute to the national budget and also generate employment ….” “… limited financial resources of the state, constraining Government’s ability to reinvest, the capital structures of enterprises are seriously eroded and their plants and equipment are outmoded and needing replacements ….” “… should show positive financial results improvements – in operating efficiency, in the quality of its products and services, in its responsiveness to market needs, in organisational morale, and in entrepreneurship ….” “… the ideological reasons such as, widening the opportunities for individual initiative and enterprise; widening shre ownership among the population and fiscal considerations ….”

  8. METHODS OF PRIVATISATION • Sale of Equity • Sale of Assets • Lease of Assets • Management Contract • Build, Operate & Transfer • Revenue Sharing Scheme

  9. EXPERIENCES SO FAR… • Public Transportation • Ports Operations • Lease of Container Yard • Lease of Facilities (Marine Passenger Terminal) • Sale of Assets (DST) • Build, Operate & Transfer • Trunk radio • VOIP

  10. ISSUES • Management Methods • Government - Business • Facility - Customer • Cash - Accrual • Mind Set Change • Monopoly - Liberalisation • Provider - Regulator

  11. ISSUES (cont’d)… • Regulatory / Policy Setting • Transfer of Assets • Service Quality & Provision • Customer Safeguards • Monopoly Behaviour • Pricing Mechanisms • Book Value • Discounted Cash Flow • Potential Earnings

  12. ISSUES (cont’d)… • Transfer of Staff • Government Terms & Conditions • Not ‘worse-off’ • Monetary • Non tangible • Sense of Security • Competitive Environment • Brunei Context

  13. NEXT STEPS… • Political Will • Implementation • Industry Study • Regulatory Setting • Incorporatisation and Law • Asset Valuation • Setting the Financial Targets and Performance • Review

  14. PRIVATISATION REALIZATION OF SHuTT

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